Boohoo chief financial officer Shaun McCabe has stepped down from his role at the online fashion giant to be succeeded by Stephen Morana next month.

Boohoo announced McCabe’s departure earlier today and said he has left the business with “immediate effect”, as well as confirming the fashion giant is currently “trading in line with market expectations” ahead of its full-year trading update in May.

McCabe was first named chief financial officer in October 2022, having been on the board since October 2020, and is reportedly leaving “by mutual agreement”.

Morana will begin his role as CFO from February 19, 2024.

Formerly a non-executive at Boohoo from 2014 to 2017, Morana was CFO at Cazoo, Betfair and Zoopla as well as holding several non-executive roles. Morana has led businesses through IPOs and brings a range of ecommerce expertise to the online fast-fashion giant. 

Boohoo group executive chair Mahmud Kamani said: “Stephen is a highly regarded finance director who is well known to Boohoo, having previously served on our board in a non-executive capacity for four years.

“He supported us through the IPO process and in our early years as a PLC.

“While the business has grown significantly since then, Stephen has a wealth of experience with global digital businesses and is, therefore, very well placed to support the strategy in pursuit of our growth ambitions.”

Shuffling the pack

It was also reported today that Boohoo trading director Sam Brocklebank, wholesale and product operations director Marie Laskowski and product director Claire Asher are “believed” to have left the retailer, as reported by Drapers.

MissPap chief executive and Boohoo group brand director Samantha Helligsø is also understood to be in talks with Boohoo about leaving the business in the coming months.

Boohoo declined to comment.

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